1982-2003. To this end, standard consumption equations are estimated and then compared, in terms of in-sample and out … about the i) current, ii) future, iii) general, and iv) personal situation. In turn, the total private consumption is … household surveys improves both the goodness- of-fit of consumption equations and their forecasting performances. It is …

that in a habit formation model, the sensitivity of consumption to predicted income can be largely reinterpreted as a … sluggish response to news. Moreover, the sensitivity of consumption to sentiment reflects the serial correlation in consumption …